IL&FS Transportation Networks Ltd transfers Pune Sholapur Road Development Company Ltd to Roadstar Infra Investment Trust

The Board of Directors of IL&FS Transportation Networks Limited has approved the transfer of the entire shareholding in Pune Sholapur Road Development Company Limited (PSRDCL) namely, 16,00,00,000 equity shares representing 90.91% of the paid-up capital of PSRDCL to Roadstar Infra Investment Trust ("the Trust") for a consideration of Re. 1/-.

In addition to the above, the Company has also assigned its Receivables owed by PSRDCL amounting to Rs. 476,99,67,001/- to Roadstar Infra Investment Trust ("the Trust") pursuant to the Deed of Assignment executed with Axis Trustee Services Limited (as the Trustees) at a consideration of Rs. 476,99,67,001/- paid in the form of 474,33,603 units of the Trust aggregating to a value of Rs. 474,33,60,355/- and balance amount in cash.

Consequent to the above actions, PSRDCL has ceased to be the subsidiary of the Company effective today.

Shares of IL&FS Transportation Networks Ltd was last trading in BSE at Rs. 3.06 as compared to the previous close of Rs. 3.09. The total number of shares traded during the day was 10081 in over 14 trades.

The stock hit an intraday high of Rs. 3.14 and intraday low of 3.00. The net turnover during the day was Rs. 30558.00.

Source : Equity Bulls

Keywords

ILandFSTransportationNetworks INE975G01012 Transfer PuneSholapurRoadDevelopmentCompany RoadstarInfraInvestmentTrust